Portland Global Advisors LLC Grows Position in Analog Devices, Inc. (NASDAQ:ADI)

Portland Global Advisors LLC lifted its position in Analog Devices, Inc. (NASDAQ:ADI) by 1.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,014 shares of the semiconductor company’s stock after purchasing an additional 53 shares during the period. Portland Global Advisors LLC’s holdings in Analog Devices were worth $853,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Curbstone Financial Management Corp purchased a new stake in shares of Analog Devices during the 4th quarter worth about $460,000. Czech National Bank boosted its position in Analog Devices by 6.5% during the fourth quarter. Czech National Bank now owns 107,650 shares of the semiconductor company’s stock worth $22,871,000 after purchasing an additional 6,566 shares in the last quarter. Synergy Asset Management LLC grew its holdings in Analog Devices by 11.1% in the fourth quarter. Synergy Asset Management LLC now owns 25,569 shares of the semiconductor company’s stock valued at $5,404,000 after purchasing an additional 2,554 shares during the period. Oddo BHF Asset Management Sas purchased a new stake in shares of Analog Devices in the third quarter valued at approximately $20,194,000. Finally, RFG Advisory LLC lifted its position in shares of Analog Devices by 3.9% during the 4th quarter. RFG Advisory LLC now owns 2,072 shares of the semiconductor company’s stock valued at $440,000 after buying an additional 77 shares in the last quarter. 86.81% of the stock is owned by hedge funds and other institutional investors.

Analog Devices Stock Down 3.5 %

Analog Devices stock opened at $201.56 on Friday. The company has a market capitalization of $99.97 billion, a PE ratio of 64.19, a price-to-earnings-growth ratio of 2.85 and a beta of 1.07. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.43 and a current ratio of 1.93. Analog Devices, Inc. has a fifty-two week low of $182.57 and a fifty-two week high of $247.10. The firm has a 50 day moving average price of $216.51 and a 200 day moving average price of $219.53.

Analog Devices (NASDAQ:ADI) last released its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.09. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The company had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.36 billion. During the same period in the previous year, the company posted $1.73 EPS. Analog Devices’s revenue was down 3.6% compared to the same quarter last year. Research analysts expect that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th were paid a $0.99 dividend. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $3.96 annualized dividend and a dividend yield of 1.96%. Analog Devices’s payout ratio is 126.11%.

Analog Devices announced that its board has authorized a stock repurchase program on Tuesday, February 18th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor company to reacquire up to 9.2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

ADI has been the subject of a number of research analyst reports. Barclays reduced their price objective on shares of Analog Devices from $250.00 to $210.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research note on Thursday, February 20th. Williams Trading set a $245.00 price objective on Analog Devices in a research note on Friday, February 14th. Benchmark lifted their price target on Analog Devices from $245.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Finally, JPMorgan Chase & Co. increased their price objective on Analog Devices from $280.00 to $300.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Six investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Analog Devices has an average rating of “Moderate Buy” and an average price target of $255.41.

Insider Transactions at Analog Devices

In related news, EVP Vivek Jain sold 12,684 shares of Analog Devices stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $210.00, for a total value of $2,663,640.00. Following the completion of the transaction, the executive vice president now owns 43,175 shares in the company, valued at $9,066,750. The trade was a 22.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $209.12, for a total transaction of $2,091,200.00. Following the completion of the sale, the chief executive officer now directly owns 64,918 shares in the company, valued at approximately $13,575,652.16. This represents a 13.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 36,684 shares of company stock valued at $7,746,500. 0.33% of the stock is currently owned by company insiders.

Analog Devices Profile

Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems products in the United States, rest of North and South America, Europe, Japan, China, and rest of Asia. The company provides data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; power management and reference products for power conversion, driver monitoring, sequencing, and energy management applications in the automotive, communications, industrial, and consumer markets; and power ICs that include performance, integration, and software design simulation tools for accurate power supply designs.